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Southampton UCU Pickets and Activities Schedule, 22-28 February 2018

Download the schedule as a PDF here.

 

Date Activity
Thurs 22/2 Pickets 8am – 12pm

Highfield campus – meet outside 47 Uni Rd

Avenue campus– meet outside main entrance

2pm- 4pm

Teach out Swaythling Neighbourhood Centre

Traute Meyer – The big risk shift. Why British employers won’t make pension promises any more

In this session Traute Meyer, Professor of Social Policy, will talk about the important role occupational pensions have played in the UK for many decades. Employers contributed to pensions voluntarily, protecting many. This situation is ending. Private sector schemes have contracted or closed over the last two decades, currently we are witnessing a similar trend in the public sector. Why is this happening? Why does it matter? Can anything be done about it?

Fri 23/2 Pickets

8am – 12pm

Highfield campus – meet outside 47 Uni Rd

Avenue campus– meet outside main entrance

2pm- 4pm

Teach out

SUSU meeting room 2, Level 1 B42

John Langley – Time: Friend or Foe?

Do you struggle to meet deadlines? Does time control you or do you control your time?  This teach-out, led by Prof John Langley, will explore the different calls on our time and offer some ways to take back control so avoiding rushed work, deadline panic and allowing the opportunity for quality time to meet that work deadline.

Mon 26/2

 

Pickets 8am – 12pm

Highfield campus – meet outside 47 Uni Rd

Avenue campus– meet outside main entrance

12pm

Rally organised by Unite and Unison

Jubilee Plaza, outside B85, Highfield

Our sister unions, Unison and Unite, are organising a rally to talk about the attack on staff pensions at University of Southampton.  UCU is invited along to discuss the current USS dispute.

2pm- 4pm

Teach out October Books

243 Portswood Road, Southampton SO17 2NG

Shards from World histories of activism

For this session, held in support of our October Books’ drive to raise funding for its new premises, staff in English will explore some of the ways in which literature engages with moments of social and political activism. Stephanie Jones will talk about ‘Striking Sail, and other troubles at sea’. Emma Clery will discuss ‘’The Poetry of Protest in the Romantic period’. Ranka Primorac will introduce us to ‘Africans on Strike’ through Ousmane Sembene’s God’s Bits of Wood. We’ll end with a performance from Sarah Hayden that helps us think about how hope can drive political action: ‘Would it not be possible?’

Tues 27/2 Pickets 8am – 12pm

Highfield campus – meet outside 47 Uni Rd

Avenue campus– meet outside main entrance

2pm – 4pm

Teach out

SUSU meeting room 2, Level 1 B42

Denis Nicole – Cybersecurity and lock picking

It’s a secret – come along and find out…….

Weds 28/2

 

Pickets 8am – 12pm

Highfield campus – meet outside 47 Uni Rd

Avenue campus– meet outside main entrance

1pm

 Choir

Turner Sims Concert Hall, Highfield Campus

University of Southampton Voices (USV) are rehearsing Sergeant Pepper every Wednesday in the Turner Sims 1.10 – 1.50. All are welcome – no experience needed and Harvey Brough is happy to accommodate strikers and supporters to sing on our strike days.

2pm – 4pm

Teach out

SUSU meeting room 2, Level 1 B42

Beautiful Trouble: My First Strike.
Workshop led by Kevin Brazil
For many staff, as well as many students, this will be their first experience of strike action. This is an opportunity to bring staff and students together to learn about the process in a different way than usual, where students learn from staff. Instead the strike offers staff a chance to learn with students: to learn about strikes, activism, and what works. People, even participants, often focus on what is negative about strikes – loss of teaching, loss of money, conflict, anxiety, stress. But the history of activism shows that strikes can be acts of empowerment, bonding, and joy – acts of beautiful trouble. To learn together about strikes and activism, we will study a selection of modules from the Beautiful Trouble casebook, reflect on what works, what doesn’t – and what we might use together at Southampton. http://beautifultrouble.org/all-modules/

 

An open message from a member in Medicine: The USS Pension Hypothesis

This message was sent by Tilman Sanchez-Elsner to his colleagues on 15 February 2018.

I am writing to inform you that there may be strike action this February and (perhaps, hopefully not) in March that, unfortunately, could disrupt our ability to do our jobs.

There has been enough blame game being played when discussing the USS pension issue, so I would like to take a more “scientific” angle on the problem to try and simplify it detaching it from emotions, which is what we usually do in our profession.

Hypothesis: “There is a huge deficit in the USS pension.”

There are two options:

Hypothesis is FALSE: There is no deficit (or it is only transient, due to market fluctuations), there is no need to change our pension scheme. UCU (or, better, the Union’s actuaries) claims this is the case; depending on whether you calculate it, we might even have a surplus.

Hypothesis is TRUE: There is a long-term deficit. UUK (our employer) claims this is the case. We have to tackle the deficit.

UUK want to do this by reducing our current scheme from Defined Benefit (guaranteed income,) to Defined Contribution (no guaranteed income). This, according to economists in papers such as the Financial Times, is not the solution to the deficit. It is, yes, the solution to the risk that the deficit poses to the employer.

Why? Because in a Defined Contribution Scheme, the risk is placed on the pensioner. If the market hasn’t performed, if there is a huge deficit in the pension pot (remember, Hypothesis is TRUE) you will pay for it by getting a lower pension (some calculations claim -10K/year).

Conclusion, the deficit will stay rampant (if TRUE, remember) for the next 15-30 years (while USS is still paying mostly Final Salary pensions, the previous scheme, before Defined Benefits). By the time some of us retire, there will be very little in the pot unless we take action now and stop the deficit from bleeding us dry.

I am no expert, so I am not going to dare offer a solution. UCU suggested that increased contributions (by both employer and employees) could help tackle the deficit, if it exists. I just say UUK have to sit down with UCU and take this problem seriously with a credible solution to the deficit, not leave the hot potato to us. They have rejected all of UCU’s proposals.

As a biologist, I believe in competition as an important driver in the international academic ecosystem. That is why I think that a weak pension scheme, together with other recent national events, may be a huge hindrance when trying to recruit brilliant academics from neighbouring countries.

As a biologist, I also believe that co-operation is an important driver in any ecosystem. This is why I am desperately asking our management to sit down with UCU, to talk, to negotiate, to co-operate in finding a solution to a problem that won’t go away with a change in the scheme. This view is shared by our Government, in a letter I just received from our MP Caroline Nokes (Southampton North, CON): “The Government encourages both sides to continue negotiating and come to a sustainable and fair agreement.”

In an attachment to that letter, Sam Gyimah, Minister of State for Universities, Science, Research and Innovation claims that “[…]an independent report commissioned by USS concluded that universities with USS schemes would remain strong and stable for at least the next 30 years.” In the same letter he expresses the interest of our Government in “[…]discussions on what, if anything, was needed to ensure that defined benefit pension schemes [such as ours] remain sustainable, whilst protecting members’ benefits.”

Summarising, let’s talk, let’s find a solution.

Feelings and emotions: I always thought that, if I worked hard enough I would be rewarded… and it has generally come true, particularly here, in the Faculty of Medicine… I feel, though, that, if they destroy our pension, no matter how hard I work or how much I produce, the result will be the same when I retire. I don’t want to find out that, when I am old and cannot work anymore, when I am defenseless, I will have barely enough to live and will have to spend the last years on this planet in poverty or unable to pay for specialized care or equipment when needed. It will be too late to protest then.

I think we deserve better.

Please join us and help us bring UUK to the negotiating table. Join UCU and strike. Short of that, please do not come to work the days of the strike. You have the legal right not to cross a picket line in solidarity with us. Don’t worry, we are not going to “intimidate” our own colleagues and friends nor the Hospital’s patients!

With a daughter in her final year here in Southampton, with teaching duties, papers and grant deadlines… the last thing I want is to strike. But I do not see an alternative to make UUK talk to us in a meaningful way.

Best Wishes,

Tilman

PS1.- If you want to help, please join UCU https://www.ucu.org.uk/join

PS2.- This e-mail is my personal opinion. For UCU´s take on the problem:https://www.ucu.org.uk/why-we-are-taking-action-over-USS

PS3.- If I have offended anyone, please accept my apologies, this was not my intention.

Collegiality and Communication

Several members have asked what has been happening to letters to the VC about the USS  pension.  Below is our correspondence to date.

 

From: UCU U.
Sent: 09 January 2018 11:05
To: Vice-Chancellor <vice-chancellor@soton.ac.uk>
Subject: USS pension

Dear Sir Christopher

Happy New Year to you.

Please find attached letter from UCU regarding the USS pension.  We hope that you are able to give your support to your staff and help protect their pensions.

We look forward to receiving a positive response from you soon.

With regards

Amanda Bitouche
Southampton UCU

 

 

 

From: Vice-Chancellor
Sent: 09 January 2018 15:37
To: UCU U. <ucu@soton.ac.uk>
Subject: RE: USS pension

Dear Amanda,

Thank you for your email and the attached letter from Professor Pope.

Kind regards,

Christopher Snowden

 

 

From: UCU U.
Sent: 26 January 2018 16:50
To: Vice-Chancellor <vice-chancellor@soton.ac.uk>
Subject: USS pension dispute

Dear Sir Christopher

Please find attached letter from Southampton UCU in relation to the USS pension dispute.

We look forward to receiving your response.

With regards

Amanda Bitouche
Southampton UCU

 

 

 

 

 

 

 

From: Vice-Chancellor
Sent: 26 January 2018 18:13
To: UCU U. <ucu@soton.ac.uk>
Subject: RE: USS pension dispute

Dear Amanda,

Thank you for your email and attached letter.

Kind regards,

Christopher Snowden

 

 

From: UCU U.
Sent: 29 January 2018 10:58
To: Vice-Chancellor <vice-chancellor@soton.ac.uk>
Subject: RE: USS pension dispute

Dear Sir Christopher

Thank you for acknowledging receipt of our letter sent to you on Friday 26 January (copy attached).  Would you be willing to make a statement to members responding to the points raised in this letter?

I look forward to receiving your response.

With regards

 

 

From: Vice-Chancellor
Sent: 29 January 2018 17:55
To: UCU U. <ucu@soton.ac.uk>
Subject: RE: USS pension dispute

Dear Amanda,

Thank you for your email.

Recognising that their pensions are of great importance to all USS members at the University, I will be posting an item on SUSSED within the next few days which will  also address points raised in UCU’s recent letters.

Kind regards,

Christopher Snowden

 

Hands off our money – fight to defend our pensions

With a single casting vote in the pension joint negotiating committee the financial security of current and future academic staff has been jeopardised.

Sadly this means that our strike action must go ahead. https://www.ucu.org.uk/article/9235/UCU-says-strikes-now-look-like-a-reality-as-pension-talks-end

Academics and academic related staff don’t like striking. We are here because we care about education and research. Most of us work longer hours than we are contracted for because we believe in what we do, because we chose service rather than profit.

But strike we must.

Here at Southampton UCU we are regarded (and regard ourselves) as a pretty moderate bunch. The turnout for the vote and the overwhelming support for strike action indicates that we have been pushed too far. This attack on our financial futures cannot be allowed to succeed.

The move to defined contribution pension with its frighteningly individualised risks (the value of investments may go DOWN as well as up) and attendant administrative charges, is nothing less than a pay cut. It is pay cut of between 10-40%, taken from our deferred salary. What is more, it is a pay cut supported by the members of the UUK side of the JNC who are most likely to be financially secure (http://www.ucea.ac.uk/en/empres/pensions/uss/governance/).

Not all VCs backed the UUK side or these damaging changes to USS. On Thursday last week, Warwick’s VC wrote that “there is a need to maintain a meaningful defined benefit scheme for those members of staff, present and future, who perceive pension provision as a key factor in their choice entering or remaining in higher education”. https://warwick.ac.uk/insite/news/intnews2/vc_letter_to_uuk.

Alongside him, the VC of Loughborough also stated his opposition in a letter (partially reproduced here https://twitter.com/sheffielducu/status/952873826475528192 ) .

Colleagues at Bristol reported that their employers had been keen to find a middle ground and planned to revise how much the institution was willing to pay in contributions.

Sadly our own VC, one of the highest paid senior academic leaders in this country, did not stand with us against the proposals. The senior management here have continued to support the move to defined contributions.

Members can expect more emails in coming days about the strike action. What we can say now is that we must strike to show our employer that our deferred salary is not theirs to bargain away.

Your executive committee will meet on Friday 26th Jan to plan the action here. In the meantime here are some of the things you can do now to help defend your pension.

  1. Volunteer for our picket lines.We will picket areas across our university campuses and need up to six on each picket line. Please email Amanda with contact details (ucu@soton.ac.uk)
  2. Pass the message on. Tell those who are not members that these changes could wipe £200,000 from their pension. See https://www.ucu.org.uk/article/9093/Overhaul-of-university-pensions-could-leave-staff-200000-worse-off-in-retirement. Urge non-members to join UCU https://www.ucu.org.uk/join and join us in action to defend our pension.
  3. Bookmarkhttps://www.ucu.org.uk/strikeforussfor updates on the action.
  4. email the VC vice-chancellor@soton.ac.uk and ask him why he did not defend your pension

Finally remember we are your branch. You are UCU. Send us your comments and ideas about how to make this strike effective. ucu@soton.ac.uk.

We may be reluctant to strike, but strike we must. We cannot allow this assault on our retirement security to go unchallenged.

 

the photo used is from https://commons.wikimedia.org/wiki/File:Cardboard_ballot_box_-_Smithsonian.jpgorm  and depicts an early US ballot box which of course is not related to the USS vote in any way but is instead a rather lovely piece of history.

 

Why pensions matter (and why you really must vote to save USS)

When I started working in academia I didn’t think much about my pension. I joined USS because I thought I should (a bit like my reason for joining AUT the forerunner to UCU). Someone explained that my pension payments – made by me and my employer – were deferred salary.

That made sense.  My pension is money paid to me but kept back for when I can no longer work. Over the years I put up with pay freezes and below inflation pay awards, the gender pay gap, and short term fixed term contracts, in the knowledge that I would be OK when I retired.

The current proposals to close the defined benefit element – if enacted – rob us of that future financial security.

UCU have calculated that ending guaranteed pension payments would mean a loss more than £200,000 over the course of a retirement for a typical member of staff.  You can see the First Actuarial report analysis here, and admire the critique from our resourceful colleagues at Sheffield UCU below (reproduced graphically for best effect):

UUK have been muddling with the figures on potential losses by including state pension in their calculation (see here an analysis of the impact of their proposals produced by Aon) but even if we take their estimate, current USS members lose 20% of the value of their pension.

Even with UUK taking  liberties with the calculation of the size of your pension cut, this still produces a reduction of 20%.  That’s a lot of deferred salary.  Are you prepared to take a 20% pay cut?

It is difficult to precisely calculate the level of cut in pension our members could face, due to the nature of the move from defined benefit to defined contribution pensions.  Essentially, University employers are wanting to move the risk of providing pensions from Universities to individual employees.  This is an unnecessary gamble, and means that retirement income will be dependent on the peculiarities and upheavals in the stock market.

Little wonder we are angry and starting to get serious about our pensions.

As I write our UCU national negotiators are continuing to put forward counter proposals for a way forward.

  • We know that there are very different views about the methodology for valuing the scheme and the way of managing risk.
  • We know that most employers could afford an increase in contributions from the current 18% of pensionable salary to at least 21% (and this may not be needed in perpetuity).

Your local UCU branch like others around the country has been asking our Vice Chancellor to stand with staff to defend our pension. So far Sir Christopher and the senior management have continued to support the UUK and USS Board proposals. (Perhaps their relatively higher salaries mean that they have fewer financial worries about their futures?).

UCU are balloting for nationally coordinated action initially aimed at shutting down lectures and classes, including a refusal to reschedule any lost due to strikes, throughout February. Already, the pressure created by the strike ballot has forced UUK to extend their deadline for talks, due to end on 19 December 2017, to 23 January 2018. They have also been persuaded to consult their members on an alternative proposal from UCU, which maintains the defined benefits (DB) cap at £55,500, reduces accrual rates to one-eightieth and means increased contributions for both employers and staff (based on the previous cost sharing agreement).

But we cannot afford to be complacent. We know that only the threat of sustained strike action will move the employers’ position, and we must deliver a clear message – before the ballot closes – that we will not tolerate this attack on our pensions.

It is time to think about your pension, but also to act. We need a 50% turnout in the vote for the ballot to be legally binding, so your vote really does matter – regardless of whether you vote in favour or against the strike.  And we need this 50% from University of Southampton members, as the ballot will be counted locally: if Southampton members do not vote in the necessary numbers, our voices will not be heard in the ballot.

PLEASE ENSURE THAT YOU HAVE POSTED YOUR BALLOT PAPER BY 16 JANUARY AT THE LATEST.

If you have not yet received or have misplaced your ballot papers, please visit this address before 12 January for a replacement: https://www.ucu.org.uk/ussballotrequest

We are having a General Meeting on 9 January 2018 at 1215pm, in 45/2040 (Lecture Theatre A), which will be addressed by Christine Haswell, UCU’s National Pensions Official, and we will be running surgeries after the meeting.  Please let us know on ucu@soton.ac.uk if you wish to attend – all members are welcome, or if you are not a member, please come and join!

Please tell your colleagues to VOTE. If they are not members they can join UCU today at https://www.ucu.org.uk/join – and if they do so by 12 January, they can get a ballot paper.

If you want to know more about the arguments about USS there are resources here and our UCU colleagues at Sheffield have produced some useful audio and slide sets:

Catherine Pope
Southampton UCU vice-president

Get The Vote Out: Pensions update, and just who/what is Mercer?

We hope by now that all members will have received their half-a-Christmas-card with our cheery round robin reminding you to vote. You may also meet some of us on Thursday, as we knock on doors to introduce ourselves and to, once again, remind you to vote.  We need to stress to each and every member how important it is to get that ballot paper posted, regardless of whether or not you support the action. The turnout is key to whether or not it will be a valid ballot.

The only member who did not receive half a Christmas card was the Vice-Chancellor himself, as we understand that he no longer contributes to USS, having achieved the maximum number of years’ contribution.  We sent him a whole card, but in it we included a letter:

Dear Sir Christopher

On behalf of USS and UCU members employed at the University of Southampton I would like to ask you once again to challenge the UUK and USS board proposals for the future of our pensions.  Your colleague, the Vice-Chancellor of the University of Warwick, Stuart Croft, has produced a couple of blog posts that provide a model for how someone in your position can support the employees of his institution by questioning the rationale behind the latest changes: https://warwick.ac.uk/services/vco/blog/

 

We note that you have invited Mercer to brief staff on 18 December 2017, claiming that Mercer work only for the University of Southampton, and not USS, UUK, or UCU.  While it may be that the representatives from Mercer who join us on 18 December have no professional relationship with USS, we note that the USS Actuary, Ali Tayyebi, is also a Mercer employee. It would be helpful if you could make this potential conflict clearer in the material advertising the event.

 

Given the hotly contested debate about the methodology for valuing the pension, and in the interests of giving staff the fullest possible evidence on which to base their decisions, we ask you also to invite representatives from First Actuarial to provide their view of the situation, at some point early in the new year before the ballot closes. First Actuarial have provided an alternative narrative throughout the negotiations, and have recently completed an evaluation of the latest proposals: https://www.ucu.org.uk/media/8916/TPS–USS-no-DB-comparison-First-Actuarial-29-Nov-17/pdf/firstacturial_ussvtps_nodb_29nov17.pdf. This demonstration of impartiality would be welcomed by members.

We have not yet received a reply.

In case the relationship between Mercer and USS is not clear to our readers, USS state on their website that the scheme valuation “is carried out by the trustee with the support of the scheme actuary, an appointed specialist who reports to the board, as required by law and under the scheme rules.”  The scheme actuary, as we stated in our letter to the VC, is employed by Mercer. You can even download Mercer’s latest valuation from this page on the USS site.

Our Pensions department sent out an invitation to all USS members on 11 December, saying “The session will be run by independent pension experts, Mercer, who are working for our University and not for USS, UUK or University and College Union (UCU).”

We note that as of 13 December, the news post on SUSSED still states: “The Mercer pensions experts, who will run these sessions, work for the University of Southampton, not for USS, Universities UK (UUK) or University College Union (UCU).”

We asked Pensions on 11 December and 13 December to ensure that members were made aware of the interest. As yet, they have not.

We find this extraordinary, particularly given the number of times senior management have accused UCU of lying and misleading its members, students, and the public.

Perhaps they know something we don’t, or have a different definition of the word “independent.”

We do hope that Mercer, at least, will be honest with those who attend the Monday session.

 

 

Our communication with the Vice-Chancellor regarding Warwick’s response to UUK’s proposals for USS

Southampton UCU sent the following email to the Vice-Chancellor this evening:

Dear Sir Christopher
We write to you again on behalf of our members and all members of staff here in the USS pension scheme. Following the USS Trustees’ adoption of a more conservative approach to the scheme valuation, we understand that Universities UK (UUK) is supporting the closure of the defined benefit element of the current pension scheme.

We would like to know, did the University of Southampton approve the latest UUK proposal before it was put to the negotiators, and if so, will you let us see the costings related to the proposal?

We ask you to put every pressure on UUK to change this decision.

This change, if implemented will have a huge, negative impact on staff here, and in other Universities. The closure of the defined benefit scheme will result in a more cautious investment strategy and will inhibit future funding of our pensions. This will be detrimental for current and future staff, and puts even those already drawing a pension from USS at risk.

This will destroy the future financial security of our staff. Not only that, the reducing of employer DC contributions to 12%, in part to finance alleged historic deficits (which, if they exist, are the employer’s responsibility) represents a huge intergenerational unfairness.

We ask you to stand with Stuart Croft, Vice-Chancellor of the University of Warwick, to defend our pensions, and to endorse his statement with a statement of your own. See: http://blogs.warwick.ac.uk/execteam/entry/which_way_forward/

The valuation of the scheme and the approach to the management of risk are hugely contested. Stuart Croft has called for “more transparency, particularly on issues such as self-sufficiency, mortality assumptions and projections for gilt yields, since these are the building blocks upon which a new greater conservatism has been placed.” Please support his challenge to the current increasingly conservative approach to USS.

We are aware that local competitor universities such as Portsmouth and Bournemouth offer alternative, more attractive pension schemes, and this is damaging the recruitment and retention of staff, and our reputation. The University of Southampton must be able to offer a decent pension to current and prospective staff, and must work to protect the pensions of its retired staff. We urge you to join with other VCs opposed to the USS proposals, and work to defend the future pension benefits of all members of USS.

Sincerely
Southampton UCU Executive Committee

Outcomes of the General Meeting, 24 October 2017

As members will be aware, we held a General Meeting this lunchtime to update the membership on local matters, and to discuss the USS valuation and the potential for a national dispute.  The President’s report highlighted the current position of the University after the results of the TEF and the NSS, citing some sadly prophetic words from national UCU’s own briefing on TEF, released in late June. We also briefed on progress and developments regarding our local priorities, set at our Strategy Day: appraisals, MEQs, consultations, and settlement agreements.

Our invited speaker Chris Mason, UCU Pensions official, and our own Denis Nicole, who sits on UCU’s National Executive Committee, helped shed light on some of the more detailed and contentious issues surrounding the pensions valuation, and there was a lively discussion about what the branch felt was important to understand about pensions, what strike action might mean, and what kind of strike action we felt able to support.

Thanks for a well-attended meeting!

Two draft motions for the special conference and meeting to be held in Manchester on 9 November 2017 were submitted to the GM for approval.  The discussion did much to clarify what matters to members of the branch, and helped everyone understand better the issues at stake.  It was to the credit of the members attending that this respectful and productive debate resulted in amendments that were unanimously approved.  They are reproduced below.

We are still looking for a third delegate to attend the 9 November events on our behalf – it is essential that we are well represented, as if we do not use our representation to its maximum benefit, we may end up with a call to action that does not reflect well our priorities here.  If you are willing to represent us (we will pay your expenses!) please get in touch with the branch via email, or on 023 80592364 as soon as you can.

Many thanks!

*****

Motion for Special HE Sector conference to determine national UCU industrial strategy

Motion on industrial action to protect pension rights

Conference notes

  1. That the willingness to take industrial action is necessary to defend USS pensions.
  2. That a marking boycott is not an effective threat in many institutions because of the increasingly casualised workforce, and a boycott’s disproportionate burden on a subset of the full membership.

Conference believes

  1. That well-supported work-to-contract and full strike action are the only effective means of delivering a meaningful national action.

Conference resolves

  1. To ballot for industrial action with strike action plus work-to-contract not before January 2018; with escalating strike action as necessary.
  2. To increase the quality and quantity of advice to branches on effective work-to-contract strategies.
  3. To escalate the political campaign to win the argument for not changing the pension scheme.

 

Motion for meeting of pre-92 USS branches to determine a response to proposals in respect of USS:

Motion to resist ideological interference in USS proposals

Conference believes that

  1. Predicting a possible future unsustainable deficit via a disputed methodology has provided an ideological justification for the privatisation of collective Defined Benefit schemes and movement into individual Defined Contribution schemes.
  2. The recklessly prudent change in investment strategy to ‘manage risk’ and the Pension Regulator’s recent re-evaluation of the covenant are ideologically driven rather than rooted in reality.

Conference resolves

  1. To state in all UCU literature that we insist that employees should not pay for this constructed deficit, either in increased contributions or in reduced benefits.
  2. To encourage the USS JNC to resist inappropriate intervention from the Pension Regulator.
  3. To refuse to accept detrimental changes to the USS pension scheme by identifying viable solutions which allow retention of secure benefits for members.

 

Your pension in their hands

Amanda, our branch administrator, explains the importance of the proposed changes to our pensions

You may have noticed exec members on early morning missions last week, trying to get the vote out in UCU’s consultative ballot over action to preserve our pensions.  And the maelstrom surrounding the USS pension valuation seems to be strengthening, even since the discussion we had with senior management at the October JNC.

At the meeting we were shown a draft press release explaining in more detail the University’s response to the employers’ consultation, which we assume will be forthcoming soon.

Over the weekend more information has emerged about political meddling in the valuation, that goes beyond even the Pension Regulator’s letter to USS, published in the Financial Times on Friday. Henry Tapper, one of First Actuarial (UCU’s auditors) blogged about the whole sorry business yesterday – showing that Frank Field (Chair of the Work and Pensions Committee), the Pensions Regulator, UUK, and USS have been involved in correspondence over the summer, trying to shore up all their individual interests in the matter.  As Henry points out, though, the only missing voice in this conversation is ours – the future pensioners.

Mike Otsuka, one of UCU’s most active pensions experts, is advocating a way out of this conundrum, that has the ideological support from the actuarial working for both UUK and UCU: a scheme that relies on discretionary targets rather than promises that he explains here.

UCU members have until 18 October to vote in the consultative ballot.  If you have not received your ballot email, or have lost it, you can get another here. We strongly recommend that you vote YES, that you are prepared to take industrial action to save our pensions.  If you are not yet a member of UCU, you still have time to join, and to vote in the ballot: click here to join online, or for information on how you can join over the phone.

We are holding a General Meeting on 24 October at Highfield, after the UCU consultative ballot has closed. Mike Otsuka has supplied us with some materials, and we are trying to arrange for an additional speaker.  We understand that some members at outlying campuses may not be able to attend, so we will do what we can to help: we can certainly circulate the meeting materials, and if you can help us with room booking, we will do our best to come to you.